Here's an alternate strategy for those for whom Latency is an issue (500ms or worse), as suggested to me by my guildleader. It worked for me on the first try (after many failures at trying a more traditional approach).
1. Apply 3 stacks of shield
2. Talk to the squire to begin
3. Run away from your opponent and Charge him.
4. As you come back around, Shield Break him.
5. If he gets into melee range, go ahead and add a layer to your own shields, and hit him with a melee attack immediately. Add 2 only if you can before he gets a chance to shieldbreak/charge you...but do not let this prevent you from charging before he does.
6. Do not panic about your own health meter, just work on getting him down.
7. Always, always, always charge before he gets a chance to.
The idea is to charge before he can. If your latency is poor, he can often shieldbreak you and charge you in the time it takes you to shieldbreak him (before your cooldown expires and Charge becomes available), robbing you of any opportunity to charge. Also, because he can put shields up faster than you can -- you probably remember the way the charge training dummies would often get their shields back up well before your abilities were even off cooldown, resulting in a failed charge -- the best defense ends up being a good offense....
This is probably not a good strat for those who have no serious issues with Latency, as you can shield about as fast as your opponent and you have time to get your shield break in before charging.
But I hope this helps some who have been having trouble getting past this fight.